Accounting profits are calculated based upon:
a. explicit cash receipts and implicit costs
b. actual cash receipts and actual expenditures of cash.
c. implicit cash receipts and actual expenditures of cash.
d. opportunity costs plus explicit costs.
b
You might also like to view...
Based on the HRV growth diagnostic framework and the case study in Box 4.2, what are the binding constraints faced by Brazil, El Salvador and the Dominican Republic and how can these constraints be overcome?
What will be an ideal response?
Friedrich Nietzsche's views on income distribution and fairness can best be described by the statement:
A. An efficiently operating marketplace will generate an equal distribution of income without government intervention. B. Society's goal should be to maximize the welfare of the least well-off, but some inequality is necessary to meet this goal. C. A high level of income inequality is necessary to sustain the arts, beauty, education, and civilization. D. The lesser individuals' duty should be to work for the well-being of the brightest individuals.